Home prices in the Charlotte area and nationwide increased in October from a year earlier, according to CoreLogic’s latest Home Price Index report.

The report shows prices in the Charlotte-Gastonia-Rock Hill residential market rose 4.4 percent in October from a year earlier, when distressed sales are included. Excluding short-sale and real estate owned transactions, local home prices climbed 2.9 percent.

Prices fell 0.6 percent in October from September levels, with distressed sales factored in. With those sales excluded, prices remained flat.

Nationwide, home prices jumped 6.3 percent in October from a year earlier, the largest year-over-year increase since July 2006, but they fell 0.2 percent from the September level. Those figures include distressed sales. Home prices across the country climbed 5.8 percent in October from a year earlier and 0.5 percent month-over-month if distressed sales are excluded.

CoreLogic (NYSE:CLGX) says losses on a month-to-month basis are expected as the housing market enters its off-season.

“The housing recovery that started earlier in 2012 continues to gain momentum,” Mark Fleming, chief economist for the data firm, says in the report. “The recovery is geographically broad-based with almost all markets experiencing some appreciation.”

The national figures for October mark an eighth consecutive month of year-over-year increases in home prices, according to the report.

A separate report from CoreLogic shows national foreclosure activity slowed in October, with 3.2 percent of all homes with a mortgage being counted among the foreclosure inventory. In North Carolina, the foreclosure inventory made up 2.3 percent of the total for the month.

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